2100NEWS WEEKLY CRYPTO REPORT Apr-12

In the past week, the NWST1100 was trending sideways and surged by 4.56%. Index prices lingered inside the symmetrical triangle. Digitex Futures (DGTX) Token is the NWSL100 crypto index member which made the biggest jump in our ranking last two weeks.

*We gauge the crypto market breadth and direction of the market by showing charts 2100NEWS Digital Assets Total Index (NWST1100) which represent the top 1100 Digital Assets. The chart overwhelmed with information is at first glance difficult to read but on the chart is the most important price information, important decisive price levels, momentum, volume of trading, and crypto market breadth. 

In the previous report, it was said, for the past week our assumption had been: the sideways trend was more likely, the price could linger inside the symmetrical triangle. On the NWST1100 chart above, we can see, sideways trend. Index prices lingered inside the triangle. RSI and PPO histogram started trending downwards.

Outlook for this week

Looking ahead to the week, the indicators give us the following signals: we can see that RSI is 47 – neutral. PPO histogram bars could continue sloping down and support sellers in the next few days. Breadth indicators could flatten out. This set up is the basis for my opinion: the continuation of a sideways trend is more likely, but we can say sellers are strong and they control the market. In bigger sideways trend NWST1100 index price could continue sloping negatively to the resistance near the Lower Keltner channel line, meaning about 10% price changes down from the current price.

Performance of different groups of Digital Assets (Coins and Tokens)

Looking at the table, you can see crypto markets continued the rebound last weeks. The total (NWST1100) index surged by 4.56% in the past week.

Crypto (Digital Assets) compared with global equity

On the chart below, the performance of the average Digital Aset represented by our NWST1100 index is compared with the average global equity represented by Dow Jones global index W1Dow. In the second half of the last year, crypto has fallen over 50% vs. global equity. This year the NWST1100 had beaten W1Dow by 60% in January then pair experienced lost 20%. In Corona’s collapse, crypto markets had fallen more than equity. Nevertheless, crypto investments vs. equity delivered 30% better results in 2020.

Indexes Revision 4-10-2020

The Bi-weekly revision update both, the amount of each asset publicly available and any additions and deletions from the indexes. On the tables below there are additions and deletions from NWS30, NWSL100, and NWSM200. As we can see on the tables Digitex Futures has improved its rankings it was added to NWSL100 and deleted from NWSM200. New mid-caps are Elamachain, NewYork Exchange, MimbleWimbleCoin. Other additions and deletions this week for the other indexes from the family are available in each index presentation.

Winner member

We select the member in the NWSL100 crypto index with the biggest jump in our ranking. Considering an investor’s point of view, peer comparison should be efficient and effective. To make appropriate peer comparison we gauged the Digitex Futures (DGTX) Token with 2100NEWS Digital Assets 100 Large Cap Index (NWSL100). Looking at the chart below, at the top we can see the DGTX vs. NWSL100, in the middle of the chart is the original DGTX price, at the bottom of the chart are NWSL100 and correlation between  DGTX and NWSL100. Purple area graph shows, DGTX has beaten NWSL100 by 29% in the last four months. However, the correlation graph gives us an explanation that the correlation is weak (Pearsons correlation coefficient = 0.12). For 55% of the time, it was moving in the opposite direction as the NWSL100. So, it has been a poor representative of the NWSL100 index in terms of price changes.

 Digitex Futures (DGTX) Website: https://digitexfutures.com/

DGTX Large-cap Ethereum based token is 83rd in the 2100NEWS ranking. It is an Index member: NWST1100, NWSL100, NWSTo100, NWSET100, NWSDM100

2100NEWS DA Orderbook Quality Evaluation Grade: Poor: 11.0 (Average for Large caps: 14.0)

Over the past week, the average market cap was 40.1 million $, average daily volume was 1.3 million $.

Digitex Futures is a non-custodial, commission-free cryptocurrency futures exchange. The use of the DGTX token obviates the need to charge transaction fees because the exchange is able to cover costs by creating and selling DGTX tokens each year.

Don’t miss this new update video by Cryptrader in which he shares two of our brand-new features – order & trade history.

If you’re new to the #DFE, Cryptrader also gives you a couple of indispensable tips about how to manage your risk.

Check it out: https://t.co/Sen0keio7e

— Digitex Futures (@DigitexFutures) April 3, 2020